The Ispahanis have been involved in business in South Asia since 1820.​
Mirza Mohammed Ispahani established the Calcutta office of M.M. Ispahani & Sons in 1900. Mirza Mohammed Ispahani’s eldest son, Mirza Ahmed Ispahani, joined the partnership in 1918 and, with his younger brothers, Mirza Abol Hassan Ispahani and Mirza Mahmood Ispahani, established the Private Limited Company, M.M. Ispahani Limited, in 1934. In 1947 the Corporate Head Office was moved to Chittagong, where it stands today. With corporate offices in Chittagong, Dhaka and Khulna and, through its Tea, Foods, Textile, Jute, Property and Agro divisions, the Group employs approximately 10,000 people.​